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-- -- -- Well two out of -- new jobs in the United States come from a small business.
My next guest says -- -- -- economy is small business Bob Hormats undersecretary for economic growth energy and the environment joins me now.
And a Fox Business exclusive from national small business week the Washington DC Bob it's great to see -- this is what the fiftieth year of small business week.
Yes it is and I think it is an important thing to the country because small business you say.
-- a lot of jobs in this country particularly new businesses start up businesses are extremely important to the dynamism -- economy and to hiring people.
It popped -- to me about the optimism never saying not just in the index but overall because there's been so many headwinds for small businesses over the last.
Tears of particular.
With bank lending it has been tight credit has been type -- small business.
The new health care law that has been a struggle for many small businesses why do you think optimism is building when there's -- other -- that we got to kind of -- here.
Well some of the things that are affected -- domestic which are really more in the realm of the small business straight from the treasury but one thing.
In the area I work and that is very positive is small businesses are beginning to export.
A lot of small businesses now recognize that there is growth in the global economy.
And they're taking advantage of growth opportunities abroad and one of the things we're trying to do the State Department is provide assistance.
So that they can.
Take advantage of these growing markets particularly.
In the large emerging economies where there's a lot of growth and small businesses were reluctant to play a role.
Or play an active role -- now there are there they're sending people there and they're doing a lot of business in these countries.
What -- small business owners telling you about a particular new payroll taxes again I mentioned the challenges.
Of health care but the new payroll taxes evolving of the consumers.
Pulled back a little bit in the first part of 2013.
Because they were losing a little bit of money out of each paycheck what about the business owners -- would have base and.
But -- they're -- really didn't talking about payroll taxes to me I think that mostly as well conversation with the treasury.
They're talking to -- mostly about their international opportunities.
And that's really the area the State Department focus on that -- -- focused on.
And I must say the conversations.
Are extremely optimistic I mean with a lot of small businesses are small business groups.
We work closely with the SBA and we're finding a lot of optimism about companies that had previously.
Confined most of their activities.
Their investment activities and certainly there -- trading their export opportunities.
To Mexico or Canada.
And now they're looking to China India Saudi Arabia Brazil many other countries so that's a conversation I'm having it's very positive.
Well I'm glad it isn't certainly wish to say because of your experience -- Goldman Sachs that was.
Where your focus was as international lets you mentioned at the same time I'm curious from someone that is now the government was -- Goldman Sachs.
What did tell them about.
About creating jobs here at home that seems to be as we got initial claims this morning coming in just a little bit higher than we expected.
The conversation still to this point to this day is how to create jobs here at home.
Good paying jobs not service sector jobs good pay even white collar jobs Bob how we do that in your opinion.
Well some of the service sector jobs do pay well all not all -- -- certainly some of them do I think what's very important is.
Training and education I've always felt that.
We need to provide more.
To people who want to get technology conditions junior colleges community colleges and make sure that the skills that they.
Developed in those institutions.
Enabled them to get good jobs and fill the kinds of jobs.
That businesses are creating more businesses.
What are going to need over the next several years a lot of businesses are looking to employ people.
In many cases.
People come out of school.
Are not trained at the kind of jobs that businesses are going to need to develop over the next five in ten years I think that.
It's a very important -- -- skill set that's critical to small businesses and large ones as well.
In particular in the technology sector that's the first thing I thought of when you were talking about education job training Eric Bob -- so wonderful to see you again and have you on Fox Business.
Thank you for having -- always great to be with -- -- our department's undersecretary.
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